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Author Topic: 2013-11-01 TheGuardian: Bitcoin moves to become a currency for travellers  (Read 966 times)
Arvicco
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November 01, 2013, 03:25:40 PM
 #1

http://www.theguardian.com/travel/2013/nov/01/bitcoin-currency-for-travellers

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Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
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Carlton Banks
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November 01, 2013, 11:04:58 PM
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Factual, by Guardian standards, but lazy. "Look at this Life on Bitcoin thing! That's a story!". Yeah, Guardian.com, and it's at least 2 months old now. "News"? I think not.

If they'd included the Bitcoin Africa motorcycle tour promotional that localbitcoins are doing, then I'd take them seriously as purveyors of Bitcoin news.

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November 02, 2013, 12:38:10 AM
 #3

At this point, I think the biggest convenience of Bitcoin for world travelers is the ability to exchange it for any local currency.

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November 02, 2013, 03:33:30 AM
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At this point, I think the biggest convenience of Bitcoin for world travelers is the ability to exchange it for any local currency.

Your post makes sense given your signature, but as more merchants accept bitcoin, converting will become an unneccessary step.

Someone from Europe stopped in a restaurant in my building that I got setuup with Bitpay solely because it was on one of the coinmap sites.

It'll take time, but this is definitely a perfect application for bitcoin.

I certainly look for anywhere that accepts bitcoin every time I travel.

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November 02, 2013, 07:06:18 PM
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True, the actual progression will be like so:

Phase One: The earliest of early adopters increase their bitcoin holdings by mining and trading with each other.

Phase Two: The newest wave of adoption comes from technical minded people using specific exchanges and person-to-person trading.

Phase Three: This wave of adoption has reduced any complexity for investment by having more exchanges, in addition to ATMs and other financial vehicles to get into Bitcoin.

Phase Four: The greater public become exposed to Bitcoin, and it starts to erode conventional Finance firms margins. This is also going to be the part where grabbing-at-straws regulation will come down, in addition to various PR smear campaigns that appeal to nationalist tendencies and appeal to authority trying to stem the tide.

Phase Five: The anti-Bitcoin propoganda has largely failed, and as successive generations of people become used to using Bitcoin, the Financial industry firms that have failed to adapt erode and wither away, as well as nation-states that refuse to integrate into the new global economy.


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November 02, 2013, 10:51:36 PM
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True, the actual progression will be like so:

Phase One: The earliest of early adopters increase their bitcoin holdings by mining and trading with each other.

Phase Two: The newest wave of adoption comes from technical minded people using specific exchanges and person-to-person trading.

Phase Three: This wave of adoption has reduced any complexity for investment by having more exchanges, in addition to ATMs and other financial vehicles to get into Bitcoin.

Phase Four: The greater public become exposed to Bitcoin, and it starts to erode conventional Finance firms margins. This is also going to be the part where grabbing-at-straws regulation will come down, in addition to various PR smear campaigns that appeal to nationalist tendencies and appeal to authority trying to stem the tide.

Phase Five: The anti-Bitcoin propoganda has largely failed, and as successive generations of people become used to using Bitcoin, the Financial industry firms that have failed to adapt erode and wither away, as well as nation-states that refuse to integrate into the new global economy.



Phase Three baby!

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